Teton Advisors LLC Acquires New Position in SkyWater Technology, Inc. $SKYT

Teton Advisors LLC acquired a new stake in shares of SkyWater Technology, Inc. (NASDAQ:SKYT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,484 shares of the company’s stock, valued at approximately $1,129,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in shares of SkyWater Technology by 13,712.9% in the third quarter. Federated Hermes Inc. now owns 347,119 shares of the company’s stock worth $6,477,000 after purchasing an additional 344,606 shares in the last quarter. Erste Asset Management GmbH lifted its stake in shares of SkyWater Technology by 21.7% during the 3rd quarter. Erste Asset Management GmbH now owns 1,400,000 shares of the company’s stock valued at $25,508,000 after buying an additional 250,000 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of SkyWater Technology by 15.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,693,056 shares of the company’s stock valued at $16,660,000 after buying an additional 229,954 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in SkyWater Technology in the 3rd quarter worth approximately $4,004,000. Finally, AQR Capital Management LLC boosted its holdings in SkyWater Technology by 112.0% in the 1st quarter. AQR Capital Management LLC now owns 313,993 shares of the company’s stock worth $2,226,000 after buying an additional 165,865 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

SKYT has been the topic of a number of analyst reports. Craig Hallum cut shares of SkyWater Technology from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a report on Tuesday, January 27th. Stifel Nicolaus set a $35.00 price target on SkyWater Technology in a report on Monday, January 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyWater Technology in a research report on Monday, December 29th. Zacks Research lowered SkyWater Technology from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Needham & Company LLC cut SkyWater Technology from a “buy” rating to a “hold” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, SkyWater Technology presently has a consensus rating of “Reduce” and a consensus price target of $32.00.

SkyWater Technology Price Performance

Shares of NASDAQ:SKYT opened at $28.92 on Friday. The company has a 50 day moving average of $29.09 and a 200 day moving average of $20.38. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.40 billion, a P/E ratio of 11.90 and a beta of 3.52. SkyWater Technology, Inc. has a 12 month low of $5.67 and a 12 month high of $36.27.

SkyWater Technology (NASDAQ:SKYT) last posted its earnings results on Wednesday, February 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). SkyWater Technology had a negative return on equity of 8.42% and a net margin of 26.90%.The firm had revenue of $171.04 million during the quarter, compared to analysts’ expectations of $160.05 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, sell-side analysts forecast that SkyWater Technology, Inc. will post -0.22 EPS for the current fiscal year.

SkyWater Technology Profile

SkyWater Technology Solutions, Inc is a U.S.-based specialty semiconductor foundry headquartered in Bloomington, Minnesota. The company focuses on the development and manufacture of high-reliability integrated circuits using advanced processes on 200-millimeter wafers.

SkyWater’s service offerings span analog/mixed-signal, radio frequency (RF), micro-electromechanical systems (MEMS) and advanced packaging technologies. Its turnkey model includes multi-project wafer (MPW) runs, volume production, design enablement support and assembly and test services, enabling customers to take concepts from prototype to market.

Serving aerospace, defense, automotive, industrial, medical and communications sectors, SkyWater supports applications that demand rigorous performance, quality and traceability.